The Countdown Begins for SEC's Crypto-Friendly New Chair: Official Step Taken! - Coin Bulletin

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The Securities and Exchange Commission of the United States (SEC) announced that Paul Atkins has been sworn in as the 34th chairman of the commission.

Atkins, as a long-time supporter of cryptocurrencies, was nominated by President Donald Trump on January 20 and was approved by the Senate earlier this month. The new SEC chairman stated that he aims to advance the commission's mission and contribute to efforts to protect investors.

Atkins stated that it would prioritize the establishment of clear and acceptable regulations especially for digital assets. This approach follows a different path than former chairman Gary Gensler's "regulation by enforcement" strategy. Following Gensler's departure in January, the SEC revoked controversial accounting guidelines aimed at cryptocurrencies, withdrew sanctions against significant industry players, and established a cryptocurrency task force.

The crypto task force is led by SEC Commissioner Hester Peirce and invites experts in the industry to participate in open discussions. This group is working to provide further clarity that digital assets are not financial securities. Additionally, Atkins' previous appointment as SEC commissioner by President George W. Bush reinforces his experience and contributions to the sector.

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